“Green solutions from the Swedish car and power industries can benefit from export successes and at the same time make an important contribution to solving the world´s climate and energy problems,” said Minister for the Environment Andreas Carlgren in a statement.
Plans call for a total investment in the project of 62 million kronor ($10.3 million), with 20 million kronor coming from the Swedish Energy Agency. Other partners include vehicle manufacturers Saab Automobile and Volvo Car Corporation, as well as energy company Vattenfall AB and fuel cell producer ETC AB.
Altogether, the Swedish government plans to invest 240 million kronor in the partial financing of environmentally oriented vehicle research projects.
“When companies, politicians and industry make a joint decision to move issues forward we can achieve better results. This can become a major and important technological advance, and one that is needed to tackle the threat of climate change,” said Sweden’s Minister for Enterprise and Energy Maud Olofsson in a statement.
According to Elforsk, a research organization affiliated with Sweden’s energy companies, having 70 percent of the private vehicle fleet in Sweden running on electricity would reduce the fleet’s carbon dioxide emissions by 80 percent.